The Medical Laser Market was valued for $5,753.77 million in 2022 and is estimated to reach $17,073.80 million by 2032, exhibiting a CAGR of 11.3% from 2023 to 2032.
Medical laser is a specialized device that generates intense beams of coherent light, harnessed for various medical applications. These lasers are designed to deliver precise and controlled energy to tissues within the human body, making them invaluable tools in modern healthcare. They are commonly used in surgical procedures, such as eye surgeries to correct vision issues (e.g., LASIK), where the laser reshapes the cornea.
The growth of global medical laser market is majorly driven by increase in prevalence of ophthalmic diseases and high adoption of the medical lasers by healthcare professionals. Medical lasers offer precision and reduced trauma, making them a preferred choice for various surgical applications, such as ophthalmology, dermatology, and aesthetic procedures.
The rise in the prevalence of ophthalmic disorders has emerged as a significant driver for the growth of the medical laser market. Ophthalmic disorders, including a wide range of conditions affecting the eyes, have become increasingly common in recent years, primarily due to factors such as an aging population, changing lifestyles, and the surge in incidence of conditions such as myopia, glaucoma, diabetic retinopathy, and age-related macular degeneration. For instance, according to 2023 report by Ministry of Health, Saudi Arabia, it was estimated that total number of suspected cases of glaucoma is over 60 million worldwide. For instance, according to National Library of Medicine, the world’s largest biomedical library and a leader in research in computational health informatics, it was reported that age-related macular degeneration accounts for 8.7% of all types of blindness worldwide. These disorders often necessitate precise and minimally invasive treatment options, which medical lasers are well-suited to provide. Lumibird Medical, a leading medical laser manufacturer for ophthalmic applications, provides Ellex Solo to perform quick and highly accurate glaucoma laser treatments. Thus, the rise in prevalence of ophthalmic disorders is expected to drive the growth of the market.
Furthermore, the rapid and widespread adoption of medical lasers by healthcare professionals has emerged as a significant driving force behind the remarkable growth of the medical laser market. Medical lasers offer healthcare professionals a highly precise and minimally invasive tool for a wide range of medical procedures. This precision is particularly crucial in delicate surgeries and treatments, such as ophthalmology, dermatology, and various cosmetic procedures, where accuracy is paramount. The ability to target specific tissues or cells with minimal damage to surrounding healthy tissue has not only improved patient outcomes but has also shortened recovery times and reduced post-operative complications. Moreover, the versatility of medical lasers has expanded their utility across various medical disciplines, allowing practitioners to address an ever-increasing number of medical conditions. Medical laser is now used in the removal of tumors, the treatment of vascular issues, or the rejuvenation of skin. Lasers have proven their efficacy, contributing to their popularity among healthcare professionals. For instance, according to 2023 report by U.S. Food and Drug Administration, a federal agency of the Department of Health and Human Services, it was reported that with proper use, lasers allow the surgeon to accomplish more complex tasks, reduce blood loss, decrease postoperative discomfort, reduce the chance of wound infection, and achieve better wound healing. In conclusion, the high adoption of medical lasers by healthcare professionals is expected to drive the growth of the market.
However, high cost of medical lasers might restrain the growth of the market. Moreover, expanded applications of lasers across clinical areas is expected to present significant growth opportunities in the market.
The medical laser market is segmented on the basis of product, application, end use, and region. By product, the market is classified into laser system and consumables. By application, the market is categorized into surgical lasers, dental laser, aesthetic lasers, and others. By end user, the market is divided into hospital, ambulatory surgical centers, and other. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global medical laser market are Bausch Health Companies, Inc, Boston Scientific Corporation, Koninklijke Philips N.V, Novartis AG, Biolase Inc, Iridex corporation, Artivion, Inc, Lumibird Medical, Candela Corporation and Cynosure, LLC.
Medical laser is a specialized device that generates intense beams of coherent light, harnessed for various medical applications. These lasers are designed to deliver precise and controlled energy to tissues within the human body, making them invaluable tools in modern healthcare. They are commonly used in surgical procedures, such as eye surgeries to correct vision issues (e.g., LASIK), where the laser reshapes the cornea.
The growth of global medical laser market is majorly driven by increase in prevalence of ophthalmic diseases and high adoption of the medical lasers by healthcare professionals. Medical lasers offer precision and reduced trauma, making them a preferred choice for various surgical applications, such as ophthalmology, dermatology, and aesthetic procedures.
The rise in the prevalence of ophthalmic disorders has emerged as a significant driver for the growth of the medical laser market. Ophthalmic disorders, including a wide range of conditions affecting the eyes, have become increasingly common in recent years, primarily due to factors such as an aging population, changing lifestyles, and the surge in incidence of conditions such as myopia, glaucoma, diabetic retinopathy, and age-related macular degeneration. For instance, according to 2023 report by Ministry of Health, Saudi Arabia, it was estimated that total number of suspected cases of glaucoma is over 60 million worldwide. For instance, according to National Library of Medicine, the world’s largest biomedical library and a leader in research in computational health informatics, it was reported that age-related macular degeneration accounts for 8.7% of all types of blindness worldwide. These disorders often necessitate precise and minimally invasive treatment options, which medical lasers are well-suited to provide. Lumibird Medical, a leading medical laser manufacturer for ophthalmic applications, provides Ellex Solo to perform quick and highly accurate glaucoma laser treatments. Thus, the rise in prevalence of ophthalmic disorders is expected to drive the growth of the market.
Furthermore, the rapid and widespread adoption of medical lasers by healthcare professionals has emerged as a significant driving force behind the remarkable growth of the medical laser market. Medical lasers offer healthcare professionals a highly precise and minimally invasive tool for a wide range of medical procedures. This precision is particularly crucial in delicate surgeries and treatments, such as ophthalmology, dermatology, and various cosmetic procedures, where accuracy is paramount. The ability to target specific tissues or cells with minimal damage to surrounding healthy tissue has not only improved patient outcomes but has also shortened recovery times and reduced post-operative complications. Moreover, the versatility of medical lasers has expanded their utility across various medical disciplines, allowing practitioners to address an ever-increasing number of medical conditions. Medical laser is now used in the removal of tumors, the treatment of vascular issues, or the rejuvenation of skin. Lasers have proven their efficacy, contributing to their popularity among healthcare professionals. For instance, according to 2023 report by U.S. Food and Drug Administration, a federal agency of the Department of Health and Human Services, it was reported that with proper use, lasers allow the surgeon to accomplish more complex tasks, reduce blood loss, decrease postoperative discomfort, reduce the chance of wound infection, and achieve better wound healing. In conclusion, the high adoption of medical lasers by healthcare professionals is expected to drive the growth of the market.
However, high cost of medical lasers might restrain the growth of the market. Moreover, expanded applications of lasers across clinical areas is expected to present significant growth opportunities in the market.
The medical laser market is segmented on the basis of product, application, end use, and region. By product, the market is classified into laser system and consumables. By application, the market is categorized into surgical lasers, dental laser, aesthetic lasers, and others. By end user, the market is divided into hospital, ambulatory surgical centers, and other. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global medical laser market are Bausch Health Companies, Inc, Boston Scientific Corporation, Koninklijke Philips N.V, Novartis AG, Biolase Inc, Iridex corporation, Artivion, Inc, Lumibird Medical, Candela Corporation and Cynosure, LLC.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical laser market analysis from 2022 to 2032 to identify the prevailing medical laser market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the medical laser market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global medical laser market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product Type
- Solid State laser systems
- Gas laser systems
- Dye laser systems
- Diode laser systems
By Application
- Ophthalmology lasers
- Surgical lasers
- Aesthetic and Dermatology Lasers
- Others
By End User
- Hospital
- Dermatology and Cosmetic Clinics
- Ophthalmic Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Boston Scientific Corporation
- Bausch Health Companies, Inc.
- Candela Corporation.
- Lumibird Medical
- Koninklijke Philips N.V.
- Artivion, Inc.
- Cynosure Inc
- Novartis AG
- Biolase Inc
- Iridex corporation.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MEDICAL LASER MARKET, BY PRODUCT TYPE
CHAPTER 5: MEDICAL LASER MARKET, BY APPLICATION
CHAPTER 6: MEDICAL LASER MARKET, BY END USER
CHAPTER 7: MEDICAL LASER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, 'Medical Laser Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026 'The global medical laser market size was $6,947 million in 2018, and is projected to reach $16,230 million by 2026, growing at a CAGR of 10.8% from 2019 to 2026. The dermatology segment accounted around one-third of the total market share in 2018.Medical laser is a device that uses a strong beam of light to cut, burn, or destroy tissue. The medical laser treatments are non-invasive procedures that provide faster healing. These procedures are used to treat tissues without scarring and discoloration of the skin or tissues. They include treatment of the scares, reshaping the cornea, used for dental procedures, tumor removal, breast a surgery, and others.
The medical laser market is expected to exhibit significant growth during the forecast period due to an increase in number of cosmetic procedures and rise in number of patients using advanced laser-based treatments globally. In addition, various benefits offered by medical laser systems, such as decreased pain intensity and faster recovery and a surge in the importance of aesthetics laser procedures are the major factors that boost the global medical laser market. However, stringent safety regulations and high rate of failure of laser-based surgical procedures is projected to impede the market growth. Moreover, increase in disposable incomes and growth in demand for laser treatment in the emerging countries are expected to offer significant profitable opportunities for the manufacturers in the global medical laser market growth.
Based on the product type, the solid-state laser systems segment is accounted for the largest share in 2018, and is anticipated to continue this trend during the forecast period. This is attributed to its wider applications in several photodynamic therapy and aesthetic treatments as well as it provides the quality output.
Based on end user, the cosmetic segment is accounted for the largest share in 2018. This is attributed to an increase in adoption of lasers in the cosmetic procedures such as hair removal and skin resurfacing. In addition, growth in demand for non-invasive treatments and rise in number of aesthetic procedures being performed further propels the market growth.
Region wise, Asia-Pacific is expected to be the fasted growing market during the forecast period, owing to an increase in geriatric population, rapid adoption of technologically advanced laser treatment options, high disposable incomes, and rise in awareness toward the adoption of medical lasers as a replacement of invasive a surgery.
The report provides a comprehensive analysis of the key players operating in the global medical laser market, which include IRIDEX Corporation, Lumenis Ltd., Ellex Medical Lasers Ltd., CryoLife, Inc., Novartis AG, Koninklijke Philips N.V., Biolase Inc., Boston Scientific Corporation, Bausch & Lomb Holdings, Inc., and Syneron Medical Ltd.
The other players in the value chain (profiles not included in the report) include Quantel laser, Nidek CO., LTD., Topcon Corporation, DEKA M.E.L.A. S.r.l., SharpLight Technologies, Sciton, Inc., and Alma Lasers.
Key Findings of the Medical Laser Market:
Based on the product type, the diode laser systems segment is expected to be the fasted growing segment during the forecast period.
Based on application, dermatology segment contains the largest share in 2018, and is anticipated to continue this trend during the forecast period.
Depending on end user, the surgical segment is expected to exhibit the highest CAGR with 11.6% during the forecast period.
U.S. generated the highest revenue in the global medical laser market in 2018, accounting for more than two-fifth of the global market.
Asia-Pacific is estimated to grow at a highest CAGR of 12.3% during the forecast period.
Companies Mentioned
- Boston Scientific Corporation
- Bausch Health Companies, Inc.
- Candela Corporation.
- Lumibird Medical
- Koninklijke Philips N.V.
- Artivion, Inc.
- Cynosure Inc
- Novartis AG
- Biolase Inc
- Iridex corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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